The purpose of this paper is to study the current status of Y2K settlement in korean business firms. To accomplish the purpose of this paper effectively, first of all, theoretical background of Y2K was reviewed briefly. Second, research hypotheses and methodology were discussed with the following topics: (1) research hypotheses (2) operational definitions of variables (3) survey population (4) data collection method (5) data analysis method. Third, current status and problems of Y2K problems were investigated in detail with the following areas: (1) characteristics of samples (2) comparisons of Y2K settlement by business area (3) comparisons of Y2K settlement by firm sizes (4) comparisons of Y2K settlement by degree of information systems (5) effective ways of settling Y2K problems Finally, this paper was summarized and future research directions were suggested briefly.